- India has pitched strongly to deal with fugitive economic offenders at the G20 summit in Osaka,Japan.
- India has said that all countries should come together to deal with economic offenders escaping to other geographies to get away with their crimes.
- In 2018,India has passed the Fugitive Economic Offenders Act.The act seeks to confiscate properties and assets of economic offenders that evade prosecution by remaining outside the jurisdiction of Indian courts.
- Economic offences with a value of more than Rs 100 crores which are listed in the schedule of the Fugitive Economic Offenders Act come under the purview of this law.
- As per the Act,Special Court under the Prevention of Money Laundering Act, 2002 has to declare a person as a Fugitive Economic Offender(FEO). Upon declaration,properties of the FEO may be confiscated by the central government.Further,the FEO or any company associated with him is barred from filing a civil claim.
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